Financial planning in Hungary

Abstract

In late 2006, after several years of preparations, Hungarian financial professionals and leading financial institutions started the Hungarian CFP program (CFPTM–Certified Financial PlannerTM). The program is aimed at adapting the international standard of financial consultancy and a new (quality of) industry to Hungary. This will create a community of quality-focused and controlled financial advisors, which operates in accordance with the training, further education, examination, professional practice-related and ethical requirements of FPSB, the Financial Planning Standards Board. The phenomenon that independent financial planning experts, especially those who work purely for fees, are gaining ground, is a striking international trend. The establishment of this new profession in Hungary as one of the first countries to do so in the world would greatly contribute to the acknowledgement of our financial culture both domestically and internationally.